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Why property forms link between mining and economy

Property owners in Brisbane and surrounding locations are benefiting from the strong mining boom as the price of housing starts to increase in Queensland.

This is good news for some investors with real estate training, as the state initially suffered a number of setbacks earlier in the year from repeated natural disasters.

According to Queensland's executive director of the property council of Australia Kathy Mac Dermott, property will provide the main link through which the state's economy will get back up to speed.

Mac Dermott says that office vacancies in Brisbane's CBD district have already dropped from 11.3 per cent to 7.4 per cent over an 18-month period.

"This demand for office space - and in many cases for large space users - continues to be led by increased business activity from the resources sector," said Mac Dermott.

"While the next Office Market Report is not due for release until early next year, the intelligence from our members is that demand for space continues to run strong and could potentially lead to very low vacancy rates in Brisbane’s CBD."

Mac Dermott also said that the increased levels of investment in property throughout Queensland would help to translate the successes yielded in the resources sector across to the broader economy.

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